Prudential Investments launches Prudential Core Bond Fund

NEWARK, N.J.--(BUSINESS WIRE)-- Prudential Investments® has launched the Prudential Core Bond Fund (NASDAQ: TPCAX), a fixed income strategy that offers investors an opportunity to invest in a diversified portfolio of investment-grade fixed income securities, including U.S. government securities, mortgage-related securities, and corporate debt. Prudential Investments is the mutual fund business of Prudential Financial, Inc. (NYSE: PRU).

The fund, which is a repositioning of the former Target Intermediate-Term Bond Portfolio, is designed to appeal to investors seeking a total return fixed income strategy limited to investment in securities with an investment-grade credit rating.

The fund is sub-advised by Prudential Fixed Income, which ranks among the largest U.S. fixed income managers, with $543 billion in assets under management as of Dec. 31, 2014. The fund portfolio management team, which also manages the Prudential Total Return Bond Fund (PDBAX) and Prudential Absolute Return Bond Fund (PADAX), averages 21 years of investment experience and includes Michael Collins, managing director and senior investment officer; Gregory Peters, managing director and senior investment officer; and Richard Piccirillo, principal and senior portfolio manager. The team will draw from the full resources of Prudential Fixed Income and the expertise of its dedicated sector teams.

“This fund offers investors a traditional approach to intermediate-term bond investing with the benefit of an experienced team that has managed core bond strategies for more than two decades,” said Stuart Parker, president of Prudential Investments. “Investors should benefit from Prudential Fixed Income’s disciplined investment and risk management process and the team’s in-depth multi-sector experience.”

The fund is available in the following share classes: A: TPCAX, C: TPCCX, Q: TPCQX, R: TPCRX and Z: TAIBX.

Prudential Investments is the fund business of Prudential Financial, Inc., offering a range of open- and closed-end funds. Please visit www.prudentialfunds.com for more information.

Prudential Fixed Income, with $543 billion in assets under management as of December 31, 2014, offers institutional investors needs-based solutions across all fixed income markets, with a focus on credit strategies and liability-driven investing. Prudential Fixed Income has portfolio management and research teams in Newark, N.J.; London and Singapore. For more information, please visit http://www.prudentialfixedincome.com.

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with more than $1 trillion of assets under management as of December 31, 2014, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, and investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise, and innovation for more than a century. For more information, please visit www.news.prudential.com.

Mutual fund investing involves risks. Some mutual funds have more risk than others. The investment return and principal value will fluctuate, and the investment, when sold, may be worth more or less than the original cost. There is no guarantee the Fund’s objectives will be achieved. The Fund invests in fixed income investments, which are subject to interest rate risk, where their value will decline as interest rates rise. The risks associated with the fund are explained more fully in the fund’s respective prospectus. For tax advice, clients should consult their tax professional regarding their particular situation. Diversification does not guarantee a profit or protect against loss in declining markets.

Consider a fund’s investment objectives, risks, charges, and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the fund. Read the prospectus and summary prospectus carefully before investing.

Mutual funds are distributed by Prudential Investment Management Services LLC. Target funds are distributed by Prudential Investment Management Services LLC, member SIPC. Prudential Fixed Income is a unit of Prudential Investment Management, Inc. (PIM) and a registered investment adviser. All are Prudential Financial companies. © 2015 Prudential Financial, Inc. and its related entities. Prudential Investments LLC, Prudential, the Prudential logo, Bring Your Challenges, and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.

Control number: 0274616-00001-00

For Prudential Investments
Darrell Oliver, 973-802-9627
[email protected]

Source: Prudential Investments

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